Author:
Mastercard
Language:
English

Navigating Global Business Travel

August 2023
MICE

After years marked by turbulence and uncertainty, global business travel is staging a comeback. Newly reminded of the essential value business travel provides, organizations are ramping up both volume and spend.

At the same time, the industry has undergone a myriad of changes which cannot be ignored. From distributed work to a rising sustainable travel imperative, new needs are rendering existing processes obsolete.

Navigating these new needs as demand ramps up is placing the entire industry at a tipping point. One that requires new tools, systems and processes, fueled by technologies like AI. One that requires a new organizational mindset around collaboration and leadership. One that requires a new ethos to overhaul legacy thinking. To navigate the business travel needs of today and tomorrow, flexibility, agility and dynamism must be taken to new heights.

In this report, we share insights from travel decision makers, including travel managers, finance, and procurement teams, on key shifts defining the industry and explore new opportunities to establish advantage in the next era of global business travel.

Contents:

  1. Introduction
  2. Business travel continues to drive essential benefits
  3. Rising complexity requires new processes and organizational mindset
  4. A hybrid workforce creates new needs that require T&E process innovation
  5. Spend management is a priority and new payment solutions can help
  6. Key market trends like AI and ESG will drive different needs and expectations
  7. Key takeaways

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Navigating Global Business Travel

August 2023
MICE

After years marked by turbulence and uncertainty, global business travel is staging a comeback. Newly reminded of the essential value business travel provides, organizations are ramping up both volume and spend.

At the same time, the industry has undergone a myriad of changes which cannot be ignored. From distributed work to a rising sustainable travel imperative, new needs are rendering existing processes obsolete.

Navigating these new needs as demand ramps up is placing the entire industry at a tipping point. One that requires new tools, systems and processes, fueled by technologies like AI. One that requires a new organizational mindset around collaboration and leadership. One that requires a new ethos to overhaul legacy thinking. To navigate the business travel needs of today and tomorrow, flexibility, agility and dynamism must be taken to new heights.

In this report, we share insights from travel decision makers, including travel managers, finance, and procurement teams, on key shifts defining the industry and explore new opportunities to establish advantage in the next era of global business travel.

Contents:

  1. Introduction
  2. Business travel continues to drive essential benefits
  3. Rising complexity requires new processes and organizational mindset
  4. A hybrid workforce creates new needs that require T&E process innovation
  5. Spend management is a priority and new payment solutions can help
  6. Key market trends like AI and ESG will drive different needs and expectations
  7. Key takeaways